International Business and Logistics 2

The person or company who is officially receiving a shipment of goods that has been sent to them by another party.

The consignee must be present at the warehouse to sign for the delivery and check the goods.

The person or company that sends or ships goods to another person or business, usually as part of a sale or trade agreement.

As the consignor, the manufacturer was responsible for properly packaging and labeling the shipment before sending it.

A method of transporting large amounts of goods in big metal boxes called containers, usually by ship, across oceans or long distances.

The furniture company used container shipping to send thousands of products from Asia to Europe at a lower cost.

A financial strategy used by businesses to protect themselves from losses caused by changes in exchange rates when buying or selling in foreign currencies.

The import company used currency hedging to make sure that a sudden drop in the dollar's value would not increase their costs.

A fee charged to a shipper or importer when cargo containers or ships are not loaded or unloaded within the agreed time period.

The company had to pay a large demurrage fee because their goods stayed at the port for two extra weeks.

A retail business method where a store sells products online but does not keep them in stock, instead ordering them directly from a supplier who ships the items straight to the customer.

She started an online clothing store using drop shipping so she never had to buy or store any products herself.

An official government document that gives a business permission to send certain goods to another country, often required for controlled or sensitive products.

The company had to apply for an export license before it could legally sell its medical equipment to foreign buyers.

A designated area within a country where goods can be imported, stored, or processed with reduced or no customs taxes, in order to encourage international trade and business.

Many companies set up warehouses in the free trade zone to store foreign goods without paying taxes until the products are sold locally.

A large warehouse where a company stores its products, then packs and ships them directly to customers after an order is placed.

After receiving an online order, the fulfillment center packed and shipped the product to the customer within 24 hours.

An internationally recognized number assigned to a product that identifies what it is, used by customs authorities around the world to classify goods and calculate taxes.

The shipping company needed the correct harmonized system code for the electronics to calculate how much import tax was owed.

A government limit on the quantity or value of a specific product that can be brought into a country from abroad during a certain period of time.

Because of the import quota, only 10,000 cars from that country were allowed into the market each year.

A form of advertising where a business pays or partners with a popular social media personality to promote its products or services to their followers.

The skincare company used influencer marketing by sending free products to popular YouTubers, who then recommended them to millions of viewers.

The process of tracking, organizing, and controlling the goods a business has in stock to make sure they have enough products without having too many.

Good inventory management helped the store avoid running out of popular items during the holiday season.

The process of connecting an online store or business system directly to one or more online selling platforms, such as Amazon or eBay, so that products, orders, and inventory are managed automatically.

After setting up marketplace integration, the seller could manage orders from Amazon, eBay, and their own website all in one place.

A sales strategy where a business sells its products through more than one platform or location at the same time, such as on a website, in a physical store, and on online marketplaces.

By using multichannel selling, the brand was able to reach more customers through its own website, Amazon, and local retail shops.

An online advertising model where a business pays a fee each time a user clicks on one of its digital advertisements, commonly used on search engines and social media platforms.

The new bakery used pay-per-click advertising on Google to attract local customers who were searching for birthday cakes.

An official place, such as an airport, seaport, or border crossing, where people and goods are allowed to enter a country and be checked by customs.

All imported electronics must be inspected at the port of entry before they can be sold in the country.

The use of social media platforms such as Instagram, Facebook, or TikTok to promote a product or service and connect with potential customers.

The clothing brand grew quickly because of its strong social media marketing strategy, posting daily videos on TikTok and Instagram.

A company that provides shipping, warehousing, and delivery services for another business, handling the movement of goods on their behalf.

The small online store used a third-party logistics company to store and ship their products to customers around the world.

A government rule, tax, or restriction that makes it harder or more expensive to buy and sell goods between countries.

High taxes on foreign goods are a common trade barrier that protects local businesses from international competition.